The UPS market is expected to witness substantial growth over the next few years

2017-03-28 15:18:55

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Research said that the Asia-Pacificuninterruptible power supplymarket, currently in the growth stage, is expected to grow at a single digit CAGR between 2015 and 2021. The market is expected to reach just under $2.00 billion by 2021. The growing prominence of data centers is driving the UPS system market. Its demand will also be expanded by greater demand for smart meters and fully automated grids.

The UPS market is expected to witness substantial growth over the next few years, which can be attributed to the growing demand of the high power range systems. Increasing trend towards the adoption of UPS systems as an essential power-back up device is expected to favorably impact the market growth over the forecast period. There is a growing trend of recognizing these systems as an essential power backup device for performing work more effectively and efficiently. Technological advancement and the availability of micro data center solutions are also expected to foster market growth. The UPS market is expected to witness perennial demand across several industry verticals including IDC date center, government, telecom, bank, security, transportation, broadcast&TV network, HealthCare, Communication, E-business, Finance, etc.

UPS devices have moved from traditional bulky sizes to compact rack solutions for data centers, which constitute a crucial industry vertical. Factors such as increased demand from new markets in Tier II & III cities, solar UPS systems’ development, and indispensable needs from various sectors are expected to drive the market over the forecast period.